AAPC Reinforces Call for Action on Currency Manipulation
Washington, D.C. – The American Automotive Policy Council (AAPC) today reinforced the need for strong and enforceable currency manipulation disciplines in all future trade agreements, including the Trans-Pacific Partnership [TPP].
At an event today in Cleveland, Ohio AAPC highlighted how unfair currency policies hurt American job creation, economic growth, and the 19,596 auto industry jobs in Ohio. This direct employment supports tens of thousands of additional Ohio jobs.
Current negotiating TPP countries have a history of intentionally devaluing their currency in order to promote their exports and to block imports into their market. This places the entire U.S. manufacturing base at a considerable disadvantage when it comes to international trade.
AAPC also applauded the 60 Senators and 230 House Members who support the inclusion of strong and enforceable currency manipulation disciplines in TPP. This includes Ohio Senators Brown and Portman, and Representatives Beatty, Fudge, Johnson, Joyce, Kaptur and Ryan.
“The American auto industry is the leading U.S. export industry and proudly supports free trade. But for the American auto industry to support TPP, the agreement must include strong and enforceable currency disciplines. This is essential in order to create a level playing field for American businesses and American workers and to ensure other markets are truly open for our exports,” said Governor Matt Blunt, President of AAPC.”
The American Automotive Policy Council, Inc. (AAPC) is a Washington, D.C.- based non-profit trade association that represents the common public policy interests of its member companies: Chrysler Group LLC, Ford Motor Company and General Motors Company